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  5. Trent shares rally over 4% on robust growth triggers ahead

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Trent shares rally over 4% on robust growth triggers ahead

Upstox
By Upstox News Desk

3 min read | Updated on September 26, 2024, 11:06 IST

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SUMMARY

Earlier this month, global investor Siddhartha Yog acquired over 10 lakh shares worth ₹718 crore of Tata Group retail firm Trent Ltd through an open market transaction. Yog is the founding partner of Xander Group Inc, an emerging markets-focused investment firm that currently manages assets of more than $3 billion.

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TRENT
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Trent stock has jumped 262% in a one-year period.

Trent stock has jumped 262% in a one-year period.

Trent share price: Shares of Trent Ltd, the Tata Group company, rallied as much as 4.32% to ₹7,939 apiece on the BSE in the morning deals on Thursday, September 26, after news reports suggested Citi is positive on the stock given robust growth triggers ahead.

The company is leveraging its supply chain and insights from Westside and Zudio, turning around its Star Bazaar business. 

Citi believes Trent is well-positioned to scale up its other pilot projects, such as MISBU, Samoh, and its joint venture with MAS. The brokerage has included the counter in its Pan-Asia high-conviction focus list, as per a report by Moneycontrol. 

Shares of the company have been on fire in the past 12 months. The stock, data shows, has jumped 262% in a one-year period. 

Trent Q1 FY25 Results

Tata Group retail firm Trent Ltd reported a two-fold increase in consolidated net profit to ₹391.21 crore for the first quarter ended June 2024.

The company had posted a consolidated net profit of ₹166.67 crore for the April-June period a year ago, according to a regulatory filing from Trent Ltd., which operates retail stores under the brand names Westside, Zudio, and Star.

Revenue from operations was up 56.15% to ₹4,104.44 crore during the quarter under review as against ₹2,628.37 crore in the year-ago period, it added.

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Total expenses increased 48.49% in the June quarter to ₹3,704.61 crore. Total income was ₹4,150.40 crore, up 54.84% year-on-year (YOY).

As of June 30, Trent was operating 228 Westside, 559 Zudio, and 36 stores across other lifestyle concepts, according to an earnings statement from the company.

Earlier this month, global investor Siddhartha Yog acquired over 10 lakh shares worth ₹718 crore of Tata Group retail firm Trent Ltd through an open market transaction.

Yog is the founding partner of Xander Group Inc, an emerging markets-focused investment firm that currently manages assets of more than $3 billion.

Last month, Siddhartha Yog acquired a total of 9.48 lakh shares, or 0.27% stake, of fashion and lifestyle company Trent from Dodona Holdings Ltd. through separate block deals for a combined value of ₹649 crore.

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The shares were acquired in the price range varying from ₹5,220-₹6,925 apiece.

Yog is also the founder and chairman of Virtuous Retail, an institutional owner and operator of community-focused shopping centres present in gateway cities across India.

With inputs from PTI
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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